FDRX vs. USGG

Last updated Aug 2, 2026

FDRX (Founder-Led 2X Daily ETF) and USGG (Leverage Shares 2X Long USAR Daily ETF) are both Leveraged Equities funds - FDRX tracks the Founder Led Index while USGG tracks the USA Rare Earth, Inc. (USAR). Both are passively managed. Their 0.51 correlation means they have sometimes moved together and sometimes differently. FDRX charges 1.08%/yr vs 0.75%/yr for USGG.

Performance

FDRX vs. USGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Founder-Led 2X Daily ETF (FDRX) and Leverage Shares 2X Long USAR Daily ETF (USGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FDRX

• 1D: 1.75%
• 1M: -9.39%
• 6M: -15.81%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

USGG

• 1D: 3.55%
• 1M: -43.38%
• 6M: -76.34%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDRX Founder-Led 2X Daily ETF	$1.33K	$6.83K	$110.11K
USGG Leverage Shares 2X Long USAR Daily ETF	$1.27M	$1.44M	$4.05M

FDRX vs. USGG - Yearly Performance Comparison

	2026 (YTD)
FDRX Founder-Led 2X Daily ETF	-25.22%
USGG Leverage Shares 2X Long USAR Daily ETF	-67.46%

Correlation

The correlation between FDRX and USGG is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 15, 2026	0.51

Return for Risk

FDRX vs. USGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Founder-Led 2X Daily ETF (FDRX) and Leverage Shares 2X Long USAR Daily ETF (USGG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

FDRX vs. USGG - Drawdown Comparison

The maximum FDRX drawdown since its inception was -39.78%, smaller than the maximum USGG drawdown of -87.55%. Use the drawdown chart below to compare losses from any high point for FDRX and USGG.

Drawdown Indicators

	FDRX	USGG	Difference
Max Drawdown Largest peak-to-trough decline	-39.78%	-87.55%	+47.77%
Current Drawdown Current decline from peak	-26.65%	-83.96%	+57.31%
Average Drawdown Average peak-to-trough decline	-20.29%	-52.76%	+32.47%

Volatility

Volatility by Period

	FDRX	USGG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	57.25%	215.15%	-157.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.25%	215.15%	-157.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.25%	215.15%	-157.90%

FDRX vs. USGG - Expense Ratio Comparison

FDRX has a 1.08% expense ratio, which is higher than USGG's 0.75% expense ratio.

Dividends

FDRX vs. USGG - Dividend Comparison

Neither FDRX nor USGG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FDRX and USGG in my portfolio?

FDRX and USGG have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FDRX or USGG?

On fees, USGG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FDRX or USGG?

USGG is cheaper with a 0.75% expense ratio, compared with 1.08% for FDRX.

Which ETF pays a higher dividend yield, FDRX or USGG?

FDRX and USGG have nearly identical dividend yields, around 0.00%.

What is the main difference between FDRX and USGG?

FDRX tracks Founder Led Index, while USGG tracks USA Rare Earth, Inc. (USAR). They also come from different issuers: Corgi Strategies and Leverage Shares. Their fees differ too: 1.08% for FDRX and 0.75% for USGG.